Topic: Foreign owners dominate Australia's rental housing market
Overseas investors now dominate the Australian rental residential property market with close to a third of the new apartments in key cities. That's about 13,000 apartments in 37 projects spread across Australia, said property group CBRE.
Unlike the late 1980s when there was a Japanese office and hotel development boom, this time 92% of all apartments being proposed or developed by foreign firms are owned by Singaporeans, explains CBRE Executive Director Kevin Stanley.